Your Tasks:

You have provided the chief financial controller with the draft budget for 2017. Following the recent executive meeting where the draft budget was discussed, you are now required to establish the final budget reflecting the changes based on the latest actuals and variances as well as major road works which will affect Futura Restaurant and Bar during 2017.

1. Access the excel spread sheet named"Task 2-Budget Futura_Rest.&Bar". The first tab on this spreadsheet is labelled"Futura Restaurant and Bar" and shows the Draft budget figures for the 2023 financial year.

1. Use the template"Revised Budget" on the second tab of the spreadsheet and perform the calculations below using basic formulas based on the following changes:

Month	Customer numbers	Average Spend (Food)	Average Spend (Beverage)
January	1750	$ 40.00	$ 10.30
February	2100	$ 39.00	$ 10.30
March	800	$ 39.00	$ 10.30
April	1300	$ 47.00	$ 10.30
May	1100	$ 26.50	$ 10.30
June	800	$ 45.00	$ 10.30
July	750	$ 37.00	$ 10.30
August	900	$ 39.00	$ 10.30
September	1000	$ 27.00	$ 10.30
October	750	$ 27.50	$ 10.30
November	860	$ 38.00	$ 10.30
December	2100	$ 43.00	$ 10.30

1.Calculate the anticipated Food revenue for each month and the yearly total.

2.Calculate the anticipated Beverage revenue per month and the yearly total.

3.Calculate the Total Revenue for each month and the yearly total.

4.Calculate the overheads total for each month (at 90% of turnover for each for each month with 1000 or more customers and at 96% for each month with less than 1000 customers) and the yearly total.

5.Calculate the profit for each month and the yearly total.

6.Calculate the Cost of Goods Sold for food and beverages, given a combined percentage of 32%.

7.Calculate the staff costs for each month at 31% for each month with 1000 or more customers and at 35% for each month with less than 1000 customers.

8.Calculate the 'Other overheads" for the operation.

SITXFIN010 Task 2-Activity 2-Budget Futura_Restaurant_Bar V2 Blank Futura Restaurant and Bar Revised Budget QAT Resort Budget Forecast Sheet Futura Restaurant and Bar Revenue Turnover Customer numbers Average Spend (Food) Food Revenue Average Spend Beverage (Beverage) Revenue Total Revenue January February March April May June July August September October November December Total Expenses Profit Total Expenses COGS - Food & Beverage Staff Costs Overheads 0 0 $ 0.00 $ 0.00 $ 0.00 0.00 0 0 $ 0.00 $ 0.00 $ 0.00 0.00 0 0 $ 0.00 $ 0.00 $ 0.00 0.00 0 0 $ 0.00 $ 0.00 $ 0.00 0.00 0 0 $ 0.00 $ 0.00 $ 0.00 0.00 0 0 $ 0.00 $ 0.00 $ 0.00 0.00 0 0 $ 0.00 $ 0.00 $ 0.00 0.00 0 0 $ 0.00 $ 0.00 $ 0.00 0.00 0 0 $ 0.00 $ 0.00 $ 0.00 0.00 0 0 $ 0.00 $ 0.00 $ 0.00 0.00 0 0 $ 0.00 $ 0.00 $ 0.00 0.00 0 0 $ 0.00 $ 0.00 $ 0.00 0.00 Crosscheck 0 0 0 0 0 0 Crosscheck